Company Pension contributions question

tybalt · Apprentice Joined: 31 Mar 2004 Posts: 21

I have recently started working for my first company. This is my first job and I have one question. I am interested in how does company pension contribution works. I would like to know whether my employer automatically pays the contribution, or whether it is deduced from my salary? Thanks in advance for the information.

rick · Apprentice Joined: 17 May 2004 Posts: 3

When it comes to pension contribution, there are several ays it can be done. One probably the most usual way of dealing with these things is that your employer will automatically pay the contribution to your pension. He will deduce that amount of money from your earnings and you will receive less money. However, you can also take care of that matter yourself. You can choose certain pension fund you want to be the place where you will be paying certain amount of money (you can also choose what amount of money). These two ways have consequence to your tax paying and tax relief, too. To see some info about that, I suggest you go to http://www.direct.gov.uk/en/MoneyTaxAndBenefits/
PensionsAndRetirement/BeginnersGuideToPensions/
DG_10026927.

Company Pension contributions question

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